Sublease Agreement

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What Is A Sublease Agreement?

A sublease agreement is concluded when a tenant decides to lease a rented property to a third party with the consent of the original landlord. In this case, the tenant acts as a sublandlord and the third party is the subtenant. Such lease agreements can be helpful to tenants who have to move to a new place to live but cannot terminate their initial agreement in a proper and timely manner. In this kind of transaction the subtenant becomes liable to the tenant (sublandlord) and the landlord for the property’s upkeep.